31 investors from Bengaluru figure in Panama Papers list

April 24, 2016

Bengaluru, Apr 24: The Panama Papers expose includes names of 31 investors from Bengaluru in the tax haven of British Virgin Islands (BVI).

The list, released by International Consortium of Investigative Journalists (ICIJ), reveals the names of lesser known investors who have mentioned their city address.

panama
Some of the investors include Pradeep Ramanarasimha Setty Kare, director, Laxmi Vilas Bank, Suresh Kumar Sarada Devi Krishna Pillai, a resident of Marathalli. Karuturi Sai Ramakrishna, a floriculturist and MD of Karuturi Global Ltd based in Bengaluru with a Sadashivanagar address.

Setty has been a shareholder and director of two companies in BVI - Smart Ideas Group and Wideview International Group Ltd - since 2007. It is not known if he has declared his investments in BVI with the income tax authorities.

Wikileaks connection

Interestingly, Pillai's name is also part of the Wikileaks for his involvement with a Singapore-based company. He has invested in Technomic Processors Pte Ltd, which has invested in Jupiter Alliance Ltd, a BVI business company. Pillai is also the director of Jupiter.

On the other hand, Karuturi Ramakrishna has made investments in Maxworth Investment Ltd, Appointcorp Ltd and is a shareholder of Vericon Zot International Ltd in BVI.

Other names

A few other prominent names from Bengaluru are H J Siwani and M J Siwani of H M Constructions (Benson Town address). Siwanis of H M Constructions are directors of Habitat Holdings Enterprise Inc in BVI.

Similarly, Rajiv Sawhney (Abbas Ali Road, Bengaluru), former MD and CEO of Mahindra Holidays and Resorts India Ltd and former chief executive officer of Telecom Business Group of Essar Global Fund Ltd has investments in BVI-based companies.

Rajiv Sawhney and Kamini Sawhney are directors of Brookwood Worldwide Ltd in BVI. One more name, Edakkana Sham Bhat Mahabaleshwara with a Kodigehalli address, also figures on the list.

Bhat is the director of Sharan Life Sciences Pvt Ltd and a sole director of SNB Invest. SNB was incorporated under the laws of the Russian Federation with an authorised and paid up share capital of 9,957,160 Russian roubles.

He is the director of Unitrust Corporate Services Ltd, Helix Universal Ltd, Directors Ltd and Standard Prelomest Holdings Ltd in BVI. He is also the share holder in Euro Asia Dynamic Ventures Ltd in BVI.

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News Network
December 7,2025

SHRIMP.jpg

Mangaluru, Dec 7: A rare bamboo shrimp has been rediscovered on mainland India more than 70 years after it was last reported, confirming for the first time the presence of Atyopsis spinipes in the country. The find was made by researchers from the Centre for Climate Change Studies at Sathyabama Institute of Science and Technology, Chennai, during surveys in Karnataka and Odisha.

The team — shrimp expert Dr S Prakash, PhD scholar K Kunjulakshmi, and Mangaluru-based researcher Maclean Antony Santos — combined field surveys, ecological assessments and DNA analysis to identify the elusive species. Their findings, published in Zootaxa, resolve decades of taxonomic confusion stemming from a 1951 report that misidentified the species as Atyopsis moluccensis without strong evidence.

The shrimp has now been confirmed at two locations: the Mulki–Pavanje estuary near Mangaluru and the Kuakhai River in Bhubaneswar. Historical specimens from the Andaman Islands, previously labelled as A. moluccensis, were also found to be misidentified and actually belong to A. spinipes.

The rediscovery began after an aquarium hobbyist in Odisha spotted a shrimp in 2022, prompting systematic surveys across Udupi, Karwar and Mangaluru. Four female specimens were collected in Mulki and one in Odisha, all genetically matching.

Researchers warn the species may exist in very small, vulnerable populations as freshwater habitats face increasing pressure from pollution, sand mining and infrastructure development. All verified specimens have been deposited with the Zoological Survey of India for future reference.

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News Network
December 4,2025

Mangaluru: Chaos erupted at Mangaluru International Airport (MIA) after IndiGo flight 6E 5150, bound for Mumbai, was repeatedly delayed and ultimately cancelled, leaving around 100 passengers stranded overnight. The incident highlights the ongoing country-wide operational disruptions affecting the airline, largely due to the implementation of new Flight Duty Time Limitations (FDTL) norms for crew.

The flight was initially scheduled for 9:25 PM on Tuesday but was first postponed to 11:40 PM, then midnight, before being cancelled around 3:00 AM. Passengers expressed frustration over last-minute communication and the lack of clarity, with elderly and ailing travellers particularly affected. “Though the airline arranged food, there was no proper communication, leaving us confused,” said one family member.

An IndiGo executive at MIA cited the FDTL rules, designed to prevent pilot fatigue by limiting crew working hours, as the cause of the cancellation. While alternative arrangements, including hotel stays, were offered, about 100 passengers chose to remain at the airport, creating tension. A replacement flight was arranged but also faced delays due to the same constraints, finally departing for Mumbai around 1:45 PM on Wednesday. Passengers either flew, requested refunds, or postponed their travel.

The Mangaluru delay is part of a broader crisis for IndiGo. The airline has been forced to make “calibrated schedule adjustments”—a euphemism for widespread cancellations and delays—after stricter FDTL norms came into effect on November 1.

While an IndiGo spokesperson acknowledged unavoidable flight disruptions due to technology issues, operational requirements, and the updated crew rostering rules, the DGCA has intervened, summoning senior airline officials to explain the chaos and outline corrective measures.

The ripple effect has been felt across the country, with major hubs like Bengaluru and Mumbai reporting numerous cancellations. The Mangaluru incident underscores the systemic operational strain currently confronting India’s largest carrier, leaving passengers nationwide grappling with uncertainty and delays.

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News Network
December 5,2025

Mangaluru: In a significant step to curb online hate and intimidation, Mangaluru City Police have registered a suo motu case against multiple Instagram accounts accused of circulating alleged provocative and threatening content.

While monitoring social media activity on Tuesday, Kankanady Town PSI Anitha Nikkam identified the Instagram handle ‘team_targetttt_900’ for posting a hate message alongside images of lethal weapons. Another account, ‘team_nagara_900’, allegedly shared a threatening post targeting activist Bharath Kumdelu, tagging additional pages such as KARAVALI-OFFICIAL.

Several other accounts — including ‘immu_bhai.fan’, ‘target_boy_900’, ‘kings_of_manglore’, ‘team_target_boys.900’, ‘arshad_mangalore’, ‘target_ka19_ullal’, ‘team_target__’, ‘troll_tigersz_900’, ‘tr_group_900’, and ‘team_target_900’ — are also under scrutiny for spreading similar inflammatory material, police said.

Authorities have urged citizens, especially young social media users, to report suspicious pages and avoid engaging with groups that glorify violence or threaten individuals. Online hate can quickly escalate into real-world harm, and police stress that sharing or promoting such content can attract legal consequences.

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